July, 2019

• 20 July

  Bank of Canada modifies mortgage stress tests rules

  Bloomberg A key Canadian interest rate used by lenders to determine who can qualify for a mortgage has dropped for the first time in almost three years, potentially giving the country’s housing market a near-term boost. The Bank of Canada lowered its 5-year conventional mortgage rate to 5.19 percent, from 5.34 percent, where it had been since May 2018. It’s ...

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• 20 July

  ECB seat to be filled in ‘contest’ if Latvian leader prevails

  Bloomberg The next member of the European Central Bank’s Governing Council from Latvia will be selected through an open competition if Latvian Prime Minister Krisjanis Karins gets his way. The premier is looking for a clean break for the monetary authority, which was tainted by a bribery scandal during the current governor’s 18 years at the helm, he said. Karins ...

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• 20 July

  Rajan hints Brexit deterred him from seeking BOE job

  

  Bloomberg Former Reserve Bank of India governor Raghuram Rajan has indicated the political challenges posed by Brexit were the reasons he didn’t apply to head up the Bank of England. In an interview with the BBC, Rajan confirmed he hadn’t sought the position and cited the fact that central banking “has become much more political in recent times” as an ...

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• 20 July

  Preserving our national heritage, history is of utmost importance

  

  ABU DHABI / WAM Promoting our national heritage and preserving and documenting our history and traditions for future generations is of utmost importance to preserving our national identity, said HH Sheikha Maryam bint Mohamed bin Zayed Al Nahyan, during the inaugural Cultural Councils Initiative meeting. The Ministry of Culture and Knowledge Development hosted the Cultural Councils Initiative, a sector-focussed platform ...

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• 20 July

  Careem, RTA to launch taxi e-hailing service ‘Hala’ in Spetember

  

  DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) and Careem announced the launch of their taxi e-hailing service in Dubai under a joint venture (JV) titled, ‘Hala’, which will officially offer its services to customers from September. The ‘Hala’ logo is designed to reflect the transformation of the taxi e-hailing experience provided through the partnership, which will be simpler, ...

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• 20 July

  GoAir begins new flights from India to Abu Dhabi

  

  ABU DHABI / WAM Abu Dhabi Airports has welcomed GoAir’s launch of two new daily flights, the first between Mumbai International Airport and Abu Dhabi, and the second to Delhi International Airport, further connecting the UAE capital to the two major Indian cities. GoAir’s inaugural flights from Delhi, India’s capital and Mumbai, the financial capital of the world’s 6th largest ...

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• 20 July

  AMAF contributes AED200,000 to Erada Centre

  DUBAI / WAM The Awqaf and Minors Affairs Foundation (AMAF) has contributed AED200,000 to the Erada Centre for Treatment and Rehab, in a bid to help the centre upgrade its facilities, and enhance patient care. An independent centre based in Dubai, Erada offers treatment and rehabilitation services to individuals with substance abuse disorders and addiction. The centre also raises awareness ...

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• 20 July

  Graduation of 1st batch of ‘Emirati Coder’ celebrated

  DUBAI / WAM Sandooq Al Watan, the national initiative launched by prominent Emirati businessmen to support research projects for the post-oil era has celebrated the first batch of graduates from the Dubai chapter of its “Emirati Coder” programme at GEMS Modern Academy. The first batch included 86 graduates. In attendance at the event were Lt. General Dhahi Khalfan Tamim, Chairman ...

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• 20 July

  Sharjah free zones bag awards for top business infrastructure

  

  SHARJAH / WAM The Sharjah International Airport Free Zone (Saif Zone), and Hamriyah Free Zone Authority (HFZA) have bagged two international awards, in recognition of their sustained efforts to develop state-of-the-art business infrastructure that meet investors’ growing needs. The two free zones received the European Society for Quality Research, ESQR’s, ‘Quality Choice Prize 2019’ in the ‘Gold Category 2019’ at ...

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• 20 July

  Sharjah ‘guest of honour’ at LatAm’s largest book fair

  

  GUADALAJARA / WAM Sharjah’s global efforts to encourage literary movements and the richness of Emirati and Arab cultures will be under the spotlight at Latin America’s largest book fair next year. In a recent announcement made by the Guadalajara International Book Fair (FIL) organisers, the emirate has been named the “Guest of Honour” at the FIL’s 34th edition, to be ...

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